Is this a possible repayment strategy?

[futuredentalstudent2024]

If I am taking out 500k in loans, is it possible to still work in a big city and only pay 10-20% of my gross income for the first 20-25 years, and then move to a rural location or work in the army to get my loans forgiven or to make enough to pay the tax bomb? Is this feesible?

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[charlestweed]

I think a lot of current dental students plan to do this after graduation: sign up for IBR, repay loans with only 10% of their income, and deal with the tax bomb 20-25 years later. It’s understandable. Dental schools are expensive and they have zero financial help from their parents. I didn’t have to borrow that much for my education…only $155k for me + another $308k from my wife’s student loans (and my wife’s a dentist also). I feel really bad for these future dentists.

The problem with this repayment approach is in 20-25 years, you will be in your late 40s early 50s…..You won’t be in the same health shape as you are now. You’ll start experiencing some ache and pain that won’t go away. You won’t have the same motivation to work as hard as when you were younger….it’s called job burnout. Consequenlty, you will make less as you get older and weaker. Another problem is everything will be a lot more expensive 20-25 years from now due to inflation. Your kids will need a car. Your kids will start college and will need your financial support. The list goes on and on. You will see that you won’t have a lot of time left to work to save for your own retirement.

IMO, a better way is to pay off student loan debt ASAP. Work hard when your young 26-27 yo healthy body can easily handle the heavy workload. Continue to live like a student for the next 3-5 years and try to cut the $500k debt in half. With the remaining $250k debt, you can cut down the work days and start enjoying life…..you will still only be in your early 30s.

 

[Ivy.ch]

If I am taking out 500k in loans, is it possible to still work in a big city and only pay 10-20% of my gross income for the first 20-25 years, and then move to a rural location or work in the army to get my loans forgiven or to make enough to pay the tax bomb? Is this feesible?

Feasible? Maybe. Miserable? Absolutely

 

[Pablo Sanchez]

I agree with the notion to pay it off ASAP. Limit your debt as much as you can while in school.

I work 20 mins outside of a major metro as a GP and was able to pay my $200k debt off in just over a year. Never had to go rural or work for the military. Now I’m 28 and have my whole life ahead of me. No tax bomb in 20 years. Life is good.

 

[D1Bound]

You’re looking for short cuts. They do not exist. Live modestly. Forget about the city nonsense and go work somewhere where you can make a TON of money.

 

[Thehighwind87]

I agree with the notion to pay it off ASAP. Limit your debt as much as you can while in school.

I work 20 mins outside of a major metro as a GP and was able to pay my $200k debt off in just over a year. Never had to go rural or work for the military. Now I’m 28 and have my whole life ahead of me. No tax bomb in 20 years. Life is good.

Eh take your time with the loan repayments. 10 years ago, it was unheard of that there would be loan forgiveness.

Today politicians are talking about student loan forgiveness. Just a week ago the administration forgave 5 billion in loans.

I expect in 10 more years that there will be more blanket forgiveness. After all the govt is running 1 trillion dollar deficit every 3 months.

What’s another trillion in student loan forgiveness? It’s popular for the voters to.

I would put it on the back burner and hope it’s forgiven.

If I was a betting man I would bet on that.

 

[Big Time Hoosier]

It’s popular for the voters to.

Correction: It’s popular among those who have outstanding student loans. It’s very unpopular among those who either never went to college or those who paid back their loans.

Big Hoss

 

[Thehighwind87]

Correction: It’s popular among those who have outstanding student loans. It’s very unpopular among those who either never went to college or those who paid back their loans.

Big Hoss

Eh I agree but considering when I graduated we were at like 10 tril of debt… and we adding 1 tril every 3 months of printed money…

I mean whether you like it or not student loans are gonna be forgiven more and more and more.

 

[Big Time Hoosier]

when I graduated we were at like 10 tril of debt… and we adding 1 tril every 3 months of printed money…

I think we’re fast approaching the point where the debt death spiral goes logarithmic…

Big Hoss

 

[voxveritatisetlucis]

You shouldn’t go to dental school if it costs 500k. That’s the only reasonable answer

 

[Thehighwind87]

I think we’re fast approaching the point where the debt death spiral goes logarithmic…

Big Hoss

Yup. While it may seem crazy to think… 1 mil homes today will be considered “cheap” once inflation really takes off.

Hopefully you are hedged accordingly.

 

[Pablo Sanchez]

Eh take your time with the loan repayments. 10 years ago, it was unheard of that there would be loan forgiveness.

Today politicians are talking about student loan forgiveness. Just a week ago the administration forgave 5 billion in loans.

I expect in 10 more years that there will be more blanket forgiveness. After all the govt is running 1 trillion dollar deficit every 3 months.

What’s another trillion in student loan forgiveness? It’s popular for the voters to.

I would put it on the back burner and hope it’s forgiven.

If I was a betting man I would bet on that.

It’s terrible advice to tell prospective dental students not to worry about their debt because it will be forgiven. You can’t count on that. It’ll set a lot of students up for financial disaster if they bank on that, take out $700k in loans, and don’t pay it back. People may promise debt relief, but the reality of it is, it hasn’t happened yet, and it may not be constitutional on a wide scale. And even if it were to be forgiven you’re paying close to 40% on the amount forgiven as a tax bomb. Are you going to suggest people avoid paying their taxes too?

 

[juniordentist]

I just don't understand why people are taking out 500k loans... seriously? No one is forcing you? Aren't your parents concerned?

 

[Ivy.ch]

I mean whether you like it or not student loans are gonna be forgiven more and more and more.

I don't think this is a given. So many people have $0 in student loans, so it becomes a political issue, and political issues don't go anywhere. Look at the disaster it was this year when they tried to give a baby amount of student forgiveness.

Inflation is going to get so bad that it will essentially act as a student loan reduction. But then we're all going to be broke, so we're screwed either way.

 

[Thehighwind87]

It’s terrible advice to tell prospective dental students not to worry about their debt because it will be forgiven. You can’t count on that. It’ll set a lot of students up for financial disaster if they bank on that, take out $700k in loans, and don’t pay it back. People may promise debt relief, but the reality of it is, it hasn’t happened yet, and it may not be constitutional on a wide scale. And even if it were to be forgiven you’re paying close to 40% on the amount forgiven as a tax bomb. Are you going to suggest people avoid paying their taxes too?

No. I’m just talking in generalities. If I were a betting man that loans would be forgiven. It is what it is. Like I said look in the past 10 years what has transpired. When I graduated there was never a notion of loan forgiveness and today we talk about it all day and there is actual forgiveness.

Like I said 5 bil worth was forgiven last week.

I paid off all my loans back in 2014 give or take, but if I graduated it today I would do the 30 year repayment thing and hope that it would be forgiven. Just my 2 cents.

 

[charlestweed]

I just don't understand why people are taking out 500k loans... seriously? No one is forcing you?

I don’t understand either. There are more and more people who value the benefit of college education than there were in the past. It’s much harder to get accepted to college than it was in the past. A lot of students apply but only a few get in. My son laughed at how ridiculously easy it was for us, old people, to get accepted to colleges. There’s no reason for colleges and universities (as well as post grad programs) to stop raising tuitions since the students need them more than they need the students to fill the seats.

Aren't your parents concerned?

Sadly, many parents don’t mind the debt. They actually encourage their kids to go to more expensive and famous schools…and they look down on the cheap local colleges and universities. Many of my son’s friends’ parents were sad when their kids got rejections from schools like Harvard, Stanford, John Hopkins, Northwestern, and even USC.....they would choose any of these schools over UCLA.

Kids who owed $150-200k for a History degree are actually in much worse financial shape than kids who owed $500k for a DDS degree. It’s impossible for a dentist to become unemployed....the income depends on how hard one is willing to work.

 

[charlestweed]

No. I’m just talking in generalities. If I were a betting man that loans would be forgiven. It is what it is. Like I said look in the past 10 years what has transpired. When I graduated there was never a notion of loan forgiveness and today we talk about it all day and there is actual forgiveness.

Like I said 5 bil worth was forgiven last week.

I paid off all my loans back in 2014 give or take, but if I graduated it today I would do the 30 year repayment thing and hope that it would be forgiven. Just my 2 cents.

It’s a drop in the bucket. That $5 billion forgiven amount is only 1/300 of $1.5 trillion, which is current student loan debt amount and it continues to climb. It's just another political stunt to get more votes. One should never rely on the government to help save their life. Government is never a solution ….government is the problem.

 

[deleted1166024]

There are legitimate strategies for forgiveness and for paying it back. It all depends on your income trajectory, family, and dental career goals. Happy to talk through options with you.

 

[LFA20]

I don’t understand either. There are more and more people who value the benefit of college education than there were in the past. It’s much harder to get accepted to college than it was in the past. A lot of students apply but only a few get in. My son laughed at how ridiculously easy it was for us, old people, to get accepted to colleges. There’s no reason for colleges and universities (as well as post grad programs) to stop raising tuitions since the students need them more than they need the students to fill the seats.


Sadly, many parents don’t mind the debt. They actually encourage their kids to go to more expensive and famous schools…and they look down on the cheap local colleges and universities. Many of my son’s friends’ parents were sad when their kids got rejections from schools like Harvard, Stanford, John Hopkins, Northwestern, and even USC.....they would choose any of these schools over UCLA.

Kids who owed $150-200k for a History degree are actually in much worse financial shape than kids who owed $500k for a DDS degree. It’s impossible for a dentist to become unemployed....the income depends on how hard one is willing to work.

I think this only applies to ASIAN parents

 

[charlestweed]

I think this only applies to ASIAN parents

I don’t think so. Many of us, Asian parents, actually encourage our kids to go to cheaper schools. Since many of us were raised by our low income immigrant parents, we understood the hardship of paying bills…..and going to a cheap public college/university would be the best option for us.

Our kids went to Catholic middle and high schools, where most of the students are White. My wife has made a lot of friends with the parents at our kids’ schools ( I don’t because I am not a sociable person). And many of these parents want their kids to go to expensive famous schools. My son ranked #3 in his class. The Valedictorian, who is White, declined UCLA and picked Notre Dame. The Salutatorian, who is half White half Fillipino, goes to MIT. My son goes to UCLA. The 4th guy, who is Korean, goes to Upenn. The 5th guy, who is white, also goes to MIT.

My son’s best friend, who’s white, would have gone to either Brown University or Northwestern if either of these schools accepted him. He got rejections from both. He’s a valedictorian in his HS class (he’s 1 year below my son because my son skipped a grade). He ended up choosing UCLA.

 

[juniordentist]

I don’t think so. Many of us, Asian parents, actually encourage our kids to go to cheaper schools. Since many of us were raised by our low income immigrant parents, we understood the hardship of paying bills…..and going to a cheap public college/university would be the best option for us.

Our kids went to Catholic middle and high schools, where most of the students are White. My wife has made a lot of friends with the parents at our kids’ schools ( I don’t because I am not a sociable person). And many of these parents want their kids to go to expensive famous schools. My son ranked #3 in his class. The Valedictorian, who is White, declined UCLA and picked Notre Dame. The Salutatorian, who is half White half Fillipino, goes to MIT. My son goes to UCLA. The 4th guy, who is Korean, goes to Upenn. The 5th guy, who is white, also goes to MIT.

My son’s best friend, who’s white, would have gone to either Brown University or Northwestern if either of these schools accepted him. He got rejections from both. He’s a valedictorian in his HS class (he’s 1 year below my son because my son skipped a grade). He ended up choosing UCLA.

This is interesting. I think the reason NYU UCLA etc can get away with ridiculous prices is because people will assume it will help their career more than a cheaper school. I think this stems from dentistry being different to any other career because it is mostly small businesses rather than law etc which are large companies. These large companies need some way to filter out applicants. They have way too many prospective employees out there, so they can be selective, but they need a way to be selective objectively. They need to have easy ways to filter applicants out, but in a way that can be done by some low level human resources person who can make the decision looking at a resume rather than having to interview someone.
People don't realize dentistry is nothing like this. Every job I have applied for I end up interviewing with the boss. The boss has the ability to hire or not hire anyone for whatever reason. So they will base it off whatever they deem appropriate, so they don't need these easy filter mechanisms like school and GPA to make a decision. If they think you're a good fit, you'll get the job, irrespective of school and GPA and experience etc.

The smart dental students should choose the cheapest dental school, rather than the big name university. But I think because dentistry is the minority where the cheapest school is the best school, that these high prices at NYU etc will always be around. It'd only once you graduate and work for a couple years that you realize what you're taught at university is nothing compared to real world experience. And then you'll wish you went to the cheapest school

 

[Stanelz]

500k is a lot, I graduated two years ago with 250k and looking back at it I should have been more concerned than I was. Once you get past 300k you're gonna be taking huge hits in your monthly salary for 10+ years until its paid off whether its by lost income through a scholarship program/rural dentistry or from your regular paycheck each month.

After you graduate you realize all the other careers you could have chosen and made the same money when considering income after loan payments.

 

[Big Time Hoosier]

500k is a lot, I graduated two years ago with 250k and looking back at it I should have been more concerned than I was. Once you get past 300k you're gonna be taking huge hits in your monthly salary for 10+ years until its paid off whether its by lost income through a scholarship program/rural dentistry or from your regular paycheck each month.

After you graduate you realize all the other careers you could have chosen and made the same money when considering income after loan payments.

Big Hoss

 

[charlestweed]

This is interesting. I think the reason NYU UCLA etc can get away with ridiculous prices is because people will assume it will help their career more than a cheaper school. I think this stems from dentistry being different to any other career because it is mostly small businesses rather than law etc which are large companies. These large companies need some way to filter out applicants. They have way too many prospective employees out there, so they can be selective, but they need a way to be selective objectively. They need to have easy ways to filter applicants out, but in a way that can be done by some low level human resources person who can make the decision looking at a resume rather than having to interview someone.
People don't realize dentistry is nothing like this. Every job I have applied for I end up interviewing with the boss. The boss has the ability to hire or not hire anyone for whatever reason. So they will base it off whatever they deem appropriate, so they don't need these easy filter mechanisms like school and GPA to make a decision. If they think you're a good fit, you'll get the job, irrespective of school and GPA and experience etc.

The smart dental students should choose the cheapest dental school, rather than the big name university. But I think because dentistry is the minority where the cheapest school is the best school, that these high prices at NYU etc will always be around. It'd only once you graduate and work for a couple years that you realize what you're taught at university is nothing compared to real world experience. And then you'll wish you went to the cheapest school

Several studies have shown that attending ivy schools doesn’t necessarily help boost the income. An Ivy League degree won't boost your salary much compared to a good state school, a study finds. You're just more likely to have an elite-sounding job.. Sadly, many parents don’t believe in these studies and continue to encourage their kids to go to the expensive “famous” schools.....so they can go around telling their friends and neighbors how smart their kids are. Sadly, these parents won’t be the ones who will repay the loans…..their kids will be the ones. They assume that their kids are so smart that they should be able to pay back the loans without any problem. And that’s why the student loan amount has climbed up to $1.7 trillions.

It’s also due to peer pressure. These smart kids have worked so hard to earn good grades in HS; therefore, they feel they deserve to get into these expensive famous schools. They don’t want to be looked down by their other classmates when they choose the lesser known, less expensive state schools. I used to think like them when I was in HS. I could have gone to one of the lesser known and cheaper Cal state schools for my undergrad education but I chose the more expensive UC school (UC Irvine) instead. Fortunately, I got the government grants that helped cover 90% the tuition. My part job helped pay the other 10%. I had zero debt for my BS degree.

 

[LFA20]

Several studies have shown that attending ivy schools doesn’t necessarily help boost the income. An Ivy League degree won't boost your salary much compared to a good state school, a study finds. You're just more likely to have an elite-sounding job.. Sadly, many parents don’t believe in these studies and continue to encourage their kids to go to the expensive “famous” schools.....so they can go around telling their friends and neighbors how smart their kids are. Sadly, these parents won’t be the ones who will repay the loans…..their kids will be the ones. They assume that their kids are so smart that they should be able to pay back the loans without any problem. And that’s why the student loan amount has climbed up to $1.7 trillions.

It’s also due to peer pressure. These smart kids have worked so hard to earn good grades in HS; therefore, they feel they deserve to get into these expensive famous schools. They don’t want to be looked down by their other classmates when they choose the lesser known, less expensive state schools. I used to think like them when I was in HS. I could have gone to one of the lesser known and cheaper Cal state schools for my undergrad education but I chose the more expensive UC school (UC Irvine) instead. Fortunately, I got the government grants that helped cover 90% the tuition. My part job helped pay the other 10%. I had zero debt for my BS degree.

YUP the main purpose is to brag to other friends and relatives!!!!

 

[voxveritatisetlucis]

Several studies have shown that attending ivy schools doesn’t necessarily help boost the income. An Ivy League degree won't boost your salary much compared to a good state school, a study finds. You're just more likely to have an elite-sounding job.. Sadly, many parents don’t believe in these studies and continue to encourage their kids to go to the expensive “famous” schools.....so they can go around telling their friends and neighbors how smart their kids are. Sadly, these parents won’t be the ones who will repay the loans…..their kids will be the ones. They assume that their kids are so smart that they should be able to pay back the loans without any problem. And that’s why the student loan amount has climbed up to $1.7 trillions.

It’s also due to peer pressure. These smart kids have worked so hard to earn good grades in HS; therefore, they feel they deserve to get into these expensive famous schools. They don’t want to be looked down by their other classmates when they choose the lesser known, less expensive state schools. I used to think like them when I was in HS. I could have gone to one of the lesser known and cheaper Cal state schools for my undergrad education but I chose the more expensive UC school (UC Irvine) instead. Fortunately, I got the government grants that helped cover 90% the tuition. My part job helped pay the other 10%. I had zero debt for my BS degree.

The ceiling is a lot higher when you go to an Ivy League school because it opens up jobs like investment banking, private equity etc.

 

[charlestweed]

The ceiling is a lot higher when you go to an Ivy League school because it opens up jobs like investment banking, private equity etc.

The success depends on each individuual’s effort, and not where he/she got his diploma from. According to Dave Ramsey’s survey of the millionaires, 62% attended public schools and only 8% went to a prestigious private school.

The National Study of Millionaires

Learn the habits and traits of millionaires, in the largest original research study ever with over 10,000 participants by Ramsey Solutions.

www.ramseysolutions.com

 

[charlestweed]

YUP the main purpose is to brag to other friends and relatives!!!!

It’s sad, isn’t it? What makes it sadder is some of these kids couldn’t handle school’s vigorous curriculum and dropped out….no degree and a huge amount of student loan debt. If they went to public school and dropped out the debt wouldn’t be as bad.

 

[voxveritatisetlucis]

The success depends on each individuual’s effort, and not where he/she got his diploma from. According to Dave Ramsey’s survey of the millionaires, 62% attended public schools and only 8% went to a prestigious private school.

The National Study of Millionaires

Learn the habits and traits of millionaires, in the largest original research study ever with over 10,000 participants by Ramsey Solutions.

www.ramseysolutions.com

How many more public schools are there than prestigious private schools?

 

[Big Time Hoosier]

How many more public schools are there than prestigious private schools?

How many of the kids at the fancy schools come from “generational” money?

Big Hoss

 

[LFA20]

It’s sad, isn’t it? What make it sadder is some of these kids couldn’t handle school’s vigorous curriculum and dropped out….no degree and a huge amount of student loan debt. If they went to public school and dropped out the debt wouldn’t be as bad.

Ultra wealthy people are obsessed with prestige. You see a lot of celebrities pay money so that their kids can graduate from top schools. I also see a lot of these in my native country(lots of ultra rich people sending their kids to Ivy League universities but never even used or worked with what they went to school for). I doubt those kids would be able to get in in the first place if it wasn’t for their parents.

I’m more impressed by those students who grew up with poor parents and became successful.

 

[charlestweed]

500k is a lot, I graduated two years ago with 250k and looking back at it I should have been more concerned than I was. Once you get past 300k you're gonna be taking huge hits in your monthly salary for 10+ years until its paid off whether its by lost income through a scholarship program/rural dentistry or from your regular paycheck each month.

After you graduate you realize all the other careers you could have chosen and made the same money when considering income after loan payments.

It’s true if your plan is to work for someone else for the rest of your life….your salary will be stuck at $150k….and you are no different from a pharmacist or an optometrist who works at Walmart/Costco. What dentistry offers that other careers can’t are:

-Much higher income earning potential. If you work hard and are willing to take risk to open your own office, the sky’s the limit.
-Job stability. It’s impossible for a dentist to become unemployed even during tough economic time…unless one is unwilling to work.
-Being your own boss. You can set your own work schedule. You can leverage by hiring associate, in-house specialist, hygienist etc to increase your income.
–Highly immune to technological changes and AI. Human interaction (doctor-patient relationship) is an essential part of dentistry that cannot be replaced.
- No need to update your knowledge in order to keep your job (or to avoid being replaced by younger grads) like engineering and other tech jobs.

To many, it’s 4 years of sacrifice. But to me, spending 4 years to attend dental school wasn’t that bad. It’s like taking 4 long gap years. I got to enjoy my youth years. I didn’t have to work in my early 20s…and then had to deal with the stress of paying bills + other financial responsiblities at such young age. I met the love of my life while I was in dental school. I travelled to several states (for lectures and CE classes) with my co-residents during my ortho residency. Life was good….and got even better after graduation. And since I took out loan money to finance those fun activities during school and delayed work, I had to work harder (after graduation) and longer in order to catch up with my HS friends, who started working 4 years (well 7 years because I specialized) before me. There’s nothing unfair about this.

I argee. Don’t take out $500k to go to dental school, if your goal is to work for someone else forever.

 

[charlestweed]

How many more public schools are there than prestigious private schools?

Not sure what point you are trying to make when you ask me this question.

I know plenty of people who went to these expensive schools ended up doing something different. One went to CIT (Cal Institute of Technology) and later switched to studying pharmacy. One graduated from Cornell….took a gap year….and then applied for physician assistant schools. I met a recent acquaintance, who graduated from Harvard 20+ years ago….had worked at different jobs (including opening his own restaurant)….and then he applied for dental school and graduated from dental school last year at the age of 47.

 

[charlestweed]

Ultra wealthy people are obsessed with prestige. You see a lot of celebrities pay money so that their kids can graduate from top schools. I also see a lot of these in my native country(lots of ultra rich people sending their kids to Ivy League universities but never even used or worked with what they went to school for). I doubt those kids would be able to get in in the first place if it wasn’t for their parents.

I don't think it is only applicable to the weathly people. Average income parents are also obsessed with Ivy schools. That's why they are super hard to get in despite the high cost of attendance. To them, graduating from these schools gives their kids the "ticket" to good paying jobs...or to good post grad/professional schools.

I’m more impressed by those students who grew up with poor parents and became successful.

I don’t think I would be where I am now, if I had rich parents who helped pay for everything.

IMO, it is advantageous to be born and raised in a low income family.....you get free life lessons that no one can teach you. Growing up under the hardship helps make you a more well-rounded person. You are more motivated to learn new things like learning to fix things around the house and at your own office, you want to learn to do things that help you save money like learning to multitask so you don't have to hire a lot of assistants, you learn to control your spending budget better (due to having a tight budget and high debt), you don’t have any issue with working on Saturdays and Sundays because you used to work like this when you were in HS and college etc.

 

[Thehighwind87]

Not sure what point you are trying to make when you ask me this question.

I know plenty of people who went to these expensive schools ended up doing something different. One went to CIT (Cal Institute of Technology) and later switched to studying pharmacy. One graduated from Cornell….took a gap year….and then applied for physician assistant schools. I met a recent acquaintance, who graduated from Harvard 20+ years ago….had worked at different jobs (including opening his own restaurant)….and then he applied for dental school and graduated from dental school last year at the age of 47.

What’s the point of going to these expensive schools to end up doing jobs… that a community college degree would bring about… with wayyyy less debt.

Anyone forking over 100-200k for an undergrad degree to end up being a PA or pharmacy… makes no sense.

Go big or go home.

 

[LFA20]

What’s the point of going to these expensive schools to end up doing jobs… that a community college degree would bring about… with wayyyy less debt.

Anyone forking over 100-200k for an undergrad degree to end up being a PA or pharmacy… makes no sense.

Go big or go home.

Bro its all about that IVY LEAGUE diploma(even if you majored in political science or basket weaving) posted on your wall.. come on...

 

[Big Time Hoosier]

Bro its all about that IVY LEAGUE diploma(even if you majored in political science or basket weaving) posted on your wall.. come on...

Big Hoss

 

[Thehighwind87]

Bro its all about that IVY LEAGUE diploma(even if you majored in political science or basket weaving) posted on your wall.. come on...

Yeah, no one has ever asked me or cared about my diploma.

Only tools care about that.

 

[charlestweed]

Yeah, no one has ever asked me or cared about my diploma.

Only tools care about that.

When you have kids and when your kids reach the college application age, 17-18, good luck at trying to convince them that Ivy schools + other well known expensive private schools are overrated and that they should attend cheap state schools to save money. They’ll think you are nut. My kids and most of my nephews/nieces and even many parents (including my own sister) don’t believe me when I told them that. The HS teachers and the IV schools themselves have been pretty good at brainwashing these young kids.

Yesterday, I met a Kaiser Permanante internal medicine doctor at the dinner at my house. He recently married to my wife’s best friend, who is an endodontist. He has taught the residents there for 20 years. He told me that it doesn’t matter where you attended school (MD or DO school)…… you do exactly the same thing and get paid the same salary. There are surgeons that came from DO schools and they are just as good as the MD guys.

 

[Thehighwind87]

When you have kids and when your kids reach the college application age, 17-18, good luck at trying to convince them that Ivy schools + other well known expensive private schools are overrated and that they should attend cheap state schools to save money. They’ll think you are nut. My kids and most of my nephews/nieces and even many parents (including my own sister) don’t believe me when I told them that. The HS teachers and the IV schools themselves have been pretty good at brainwashing these young kids.

Yesterday, I met a Kaiser Permanante internal medicine doctor at the dinner at my house. He recently married to my wife’s best friend, who is an endodontist. He has taught the residents there for 20 years. He told me that it doesn’t matter where you attended school (MD or DO school)…… you do exactly the same thing and get paid the same salary. There are surgeons that came from DO schools and they are just as good as the MD guys.

Eh kids can do what kids do. I’m not paying for it. They can figure out the debt loads if they so choose.

Of course I can educate them on finances but in the end it’s their choice.